The HMRC consultation regarding the ability for company shareholders to claim entrepreneurs relief, paying 10% tax on release of accumulated reserves will run until 3rd February, we will then see the new rules brought into force under the Finance Act by 6th April, at the latest.
If you have built up profits and cash reserves in your company and wish to release those at a 10% tax rate, you need to act today.
Under the new Targeted Anti-Avoidance Rules distributions will be treated as income post a Members Voluntary Liquidation, increasing tax liabilities for some by over 350%!
We have in house Insolvency Practioners who can guarantee distributions will be made before these new changes come into effect. You must act fast, contact us today to discuss and reserve your appointment.
We have accountants in Canary Wharf and Accountants in Brentwood waiting to hear from you.
Read the full consultation document here: